The market for municipal water treatment chemicals is likely to witness a CAGR of over 5%, during the forecast period. One of the major driving factors of the market is rising environmental concerns for the release of toxic wastes. However, lack of awareness regarding chemical water treatment technologies is likely to restrain market growth, during the forecast period.
- Increasing demand for municipal water treatment chemicals in Asia-Pacific and Middle East & Africa is also likely to boost the demand for municipal water treatment chemicals.
- Shifting focus toward the usage of green chemicals is expected to provide new opportunities for market growth in the future.
- Asia-Pacific is likely to dominate the market during the forecast period.
Key Market Trends
Corrosion and Scale Inhibitors to Dominate the Market
- The Corrosion and Scale inhibitors accounted for the major market share.
- Corrosion inhibitors are general purpose chemicals applied to deal with corrosion caused in boilers. Corrosion occurrence is because of the reaction of oxygen with metallic parts in a boiler to form oxides.
- Scale inhibitors are used to slow or prevent scaling in water systems. They safeguard open and closed cooling systems and maintain the efficiency and accurate water conditions of the boiler.
- The oil & gas and petrochemical industry is one of the largest users of scale inhibitors with the majority of demand coming from the Middle East & Africa. The demand in the Asia-Pacific region is due to the presence of power, textile and paper, and sugar mills industry.
- Moreover, the food and beverage processing in the ASEAN countries are also expected to add up to the demand.
- Hence, corrosion and scale inhibitors are expected to dominate the market, during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific accounted for the major market share, owing to the high demand from countries, like China and India.
- China, being the most populated country in the world, faces one of the most challenging tasks to address, the water scarcity situation.
- Additionally, the governments of developing economies, including China, India, and Thailand, have been taking strict measures for water treatment, which, in turn, is expected to boost the demand for municipal water treatment chemicals in the region.
- Hence, Asia-Pacific is likely to dominate the market, owing to the aforementioned reasons.
The market for municipal water treatment chemicals is partly consolidated, as the market share is divided among a few key companies. Some of the major companies in the market include Accepta The Water Treatment Products Company, DowDupont, Lonza, and Solvay, among others.
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